Zimbabwe Alloys (ZimAlloys), once a struggling giant in the country’s mining sector, is making a remarkable comeback, with significant strides in production and future expansion plans.
During a recent media tour in Gweru, ZimAlloys Managing Director, Deric Dube, revealed that the company has not only revived its smelting operations after an 11-year hiatus but also has ambitious plans to scale up production.
Dube disclosed that ZimAlloys is producing around 8,000 metric tons of ferrochrome concentrates monthly, with efforts underway to increase this figure significantly. In the past 12 months, the company has reopened three chrome concentrator plants, nearly doubling its production levels compared to the previous year.
The renewed operations have breathed new life into the company, providing employment opportunities and bolstering the local economy.
“Our plan is to eventually ramp up to 120,000 tons per annum of high-carbon ferrochrome production and restart all other smelting operations of various alloys,” said Dube. He emphasized that ZimAlloys is not just focused on high-carbon ferrochrome but also producing low-carbon ferrochrome and other ferroalloys, allowing the company to pivot amid market fluctuations.
The company, previously under judicial management, has been revitalized with the support of its major shareholder, Kuvimba Mining House, which owns 85% of the shares. The remaining 15% is held by Commental, a foreign entity involved in marketing ZimAlloys’ products in specialized global markets. This strategic partnership has enabled ZimAlloys to access quality funding and navigate the challenges of capital acquisition, further bolstered by a favorable chrome market cycle.
Dube highlighted the company’s future plans, including setting up a new greenfield furnace within the next 12 to 18 months, marking another milestone in ZimAlloys’ resurgence. The company’s renewed focus on growth and modernization reflects its commitment to becoming a strong player in Zimbabwe’s smelting industry once more.
With a robust resource base and strategic direction, ZimAlloys is well-positioned to reclaim its status as a leading ferrochrome producer in Zimbabwe, signaling the revival of an industry cornerstone and a beacon of hope for the local community.
